M: Hello English learners! Welcome back to EnglishPod! My name is Marco E: And I’m Erica M: We’re bringing you an advanced lesson today E: That’s right, an advanced lesson where we talk about investing in emerging markets M: Right, so, it’s kind of a business topic, it’s kind of a world topic as well E: Yes M: And it’s pretty difficult E: Yeah, it is really hard M: Right, so, if you’re listening and you don’t understand everything, please don’t get discouraged, don’t, uh, worry about, because we are here to learn E: Yes, and we’re here to help you M: Right E: Uhu M: So, let’s get started with this I’m really excited about this lesson E: Yeah, okay, well, Marco, maybe you can tell us a little bit what is an emerging market? M: An emerging market is a market that is starting to develop E: Okay M: And it’s growing rapidly E: So, you can maybe give some examples of… emerging market? M: Well, for example, China is an emerging market E: Yeah M: In the last years it’s been growing rapidly E: More and more people are… are moving to the middle class and have money to spend M: Right, exactly E: Uhu M: So, China’s like a really great example of an emerging market E: Alright, well, with that let’s listen to the dialogue for the first time DIALOGUE, FIRST TIME M: Well, it sounds like the dad has missed out on a really big investment opportunity, hey? M: Yeah, his… and his son is pretty smart E: Yeah M: Hehe Pretty smart little boy E: Aha M: Okay, so, we have, uh, some great words that we wanna look at here E: Uhu M: Why don’t we start with the first one – turmoil E: Turmoil M: Turmoil E: Turmoil M: So, we have some great examples of… how turmoil is used in different sentences, so… E: Uhu M: Let’s listen Voice: Example one A: With the civil war, a famine and inflation the country has been in turmoil for ten years Voice: Example two B: There’s been a lot of turmoil in my life recently: I’ve moved to new city, I’ve change my job, I broke up with my girlfriend Voice: Example three C: The devaluation of the dollar caused the great deal of turmoil in the markets M: So, turmoil is a state of… E: Of uncertainty, of change, of difficult times M: A little bit of chaos… E: Yeah M: Some sort of, yeah E: Yeah, yeah So, for example when there’s a lot of turmoil in the market that means stock prices are changing drastically from day to day M: Right, or the economy is in turmoil, it… there’s a lot of problems going on E: Yeah, uncertainty M: Uncertainty Okay E: Uhu M: Good word Alright, and we also saw something really interesting in the dialogue… E: Yes M: About a proposed stimulus package E: A proposed stimulus package M: So, a proposed stimulus package is something that’s going on now E: Yes, let’s break this phrase down M: Uhu E: So, we’ve got stimulus package M: A stimulus package, uh, something to stimulate the economy, right? E: Right So, money from the government to get the economy moving M: To get it moving E: Aha M: Stimulus package E: Proposed M: It means that it hasn’t been approved yet E: Right, it’s suggested M: It’s suggested E: Uhu M: It’s an idea E: Uhu M: So, the proposed stimulus package for the US economy, for example, is a hundred and fifty billion dollars E: Right, it’s a hundred and fifty billion dollars of American taxpayers money that the government wants to put into the economy to keep it moving M: To keep it moving, right So, if it works or not, that’s still a debate, but… E: Yeah M: Hehe It’s a proposed stimulus package E: Let’s move to our third phrase - aggregate demand M: Aggregate demand E: Aggregate demand M: Aggregate demand E: So, demand is pretty clear, but this word aggregate, what’s that about? M: Aggregate is like, uh, combined, added E: Yeah M: Right? E: Yeah M: Aggregate demand For example, in a country like China… E: Uhu M: Where cities like in… Shanghai or cities like Beijing… E: Yeah M: Where more and more people are accumulating wealth… E: Uhu M: The aggregate demand is increasing E: Right Right, the combined demand for consumer goods is growing M: Right E: Uhu M: More people more… have more money, so they’re spending more E: Yes M: Okay E: You know, Marco, there’s a ton of excellent language in this dialogue, isn’t there? M: Yeah, a lot of good stuff here E: Yeah, and we wanna listen to the dialogue one more time, but before we do, we have three words for you that we want you to listen for M: Yeah, pay attention to these words: nest egg E: Nets egg M: Inevitable E: Inevitable M: And hit up E: Hit up M: So, from the context of the dialogue try and see if you can figure out what they mean, but after listening to it we’ll come back and explain it anyways DIALOGUE, SECOND TIME M: So, the kid wants to invest, because he wants to set up his nest egg E: That’s right, so, basically, he wants to get a bunch of cash together, so that he can buy a house or get married or… M: Uh E: Whatever It’s that… it’s the money you need to start your life, right? M: To start your life; your nest egg E: Uhu M: It’s kind of a weird way of referring to this money, right? E: I guess it is kind of funny M: Hehe And also the little boy talked about an inevitable recession E: Yes, inevitable M: Inevitable E: Inevitable basically means, uh, unavoidable M: Right E: So, this guy thinks that the recession is unavoidable M: It’s gonna happen E: Yes, inevitable You know, this word inevitable If you apply the root word, you can get a noun, an adjective or an adverb, right? M: Right E: So, we’ve got some examples where you can see this word in action Voice: Example one A: Jason knew he was going to get laid off, but he was trying to delay the inevitable Voice: Example two B: As a new manager, it’s inevitable that you’re going to make mistakes Voice: Example three C: Inevitably, we’ll all die at the end of our lives M: So, as you can see, the noun and adjective form are the same E: Yes, inevitable M: Inevitable When we use it as an adverb though, we add the “-ly” to it E: Inevitably M: Inevitably E: Yes M: So, yeah, as you can see, we could use it in many different ways depending on what we wanna say E: Right, well, inevitably, we have to move on to our third word M: Hit up E: Hit up M: So, he says he’s going to hit up Mom for the cash E: Ask his Mom M: Yeah, hit up E: Yeah, this is kind of a slangy term, isn’t it? M: Yeah, it’s a… it’s more informal… E: Yeah M: Uh, a l… a lot more slangy, yeah E: We… we wouldn’t really use it with your boss, would you? M: No, you’re not gonna go up to your boss and say “hey, I need to hit you up for some cash” E: No M: Hehe E: So, Marco, I think this word is only applying to money, right? M: Well, you wouldn’t go up to your boss and say “oh, I need to hit you up for… some vacation time” E: No, it’s typically used like… M: For money E: For money M: In this context, yeah E: Yeah, yeah M: Hit ’em up E: We’ve got some examples of the phrase hit up Let’s listen Voice: Example one A: I’m gonna hit up the boss for a raise Voice: Example two B: Are you trying to hit me up for money? Voice: Example three C: Oh, I don’t have any cash Have you tried hitting up Sophie? She’s rich M: Okay, so, this is our first Advanced lesson I hope you enjoyed it It is a lot more challenging, I think E: Yes M: Especially, because it’s said in a business context, so, ??? So, we have a lot of specific words and a lot of technical vocabulary E: That’s right Marco, you’re exactly right and I think that our users are gonna have a lot questions about the language in this… in this lesson So, I’d like to invite you guys to come to our website at englishpod.com M: Exactly, where you can leave all your questions and comments and we’ll be there to answer them E: Yes M: But until then it’s… E: Good bye! M: Bye! ... kind of a weird way of referring to this money, right? E: I guess it is kind of funny M: Hehe And also the little boy talked about an inevitable recession E: Yes, inevitable M: Inevitable E: Inevitable... example, in a country like China… E: Uhu M: Where cities like in? ?? Shanghai or cities like Beijing… E: Yeah M: Where more and more people are accumulating wealth… E: Uhu M: The aggregate demand is increasing... saw something really interesting in the dialogue… E: Yes M: About a proposed stimulus package E: A proposed stimulus package M: So, a proposed stimulus package is something that’s going on now